AFTER 11 years of “continuous losses,” the financial resources of the Home Guaranty Corp. (HGC) have been depleted and the agency now risks losing the capacity to provide guarantees for housing loans, according to the Commission on Audit (COA).
The HGC’s “losing streak” prompted COA to sound the alarm after discovering during its audit conducted in 2012 that the government-owned and –controlled corporation (GOCC) has racked up a deficit of P13.296 billion.
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